Is the Central Bank preparing for devaluation?

Azerbaijan’s manat has marked its 34th anniversary in conditions that contrast sharply with the turmoil of its early years: the national currency has been held at 1.70 to the dollar for almost nine years, foreign exchange reserves are rising and...

The central question of this analysis is simple, but the answer is complex: should cryptocurrency be banned in Azerbaijan, or should the market be regulated in a way that allows the country to benefit from innovation and investment while managing...

International reserves are approaching $86bn and the central bank has become a large buyer of foreign currency. Yet the country’s formidable financial buffer continues to conceal its dependence on hydrocarbon revenues and fiscal transfers Azerbaijan...

Allegations against two senior tax officials expose the tension between the achievements of Azerbaijan’s electronic tax administration and the persistent risks created by official discretion. Over the past decade, tax administration has become one...